Multiple Sources of Income — Video

The whole ‘multiple sources of income’ mantra has morphed into definitions most of us wouldn’t begin to recognize. Here’s my thinking — what’s yours?

 

Transcript:   Hi this is Jeff Brown the “BawldGuy”. Today, we’re going to talk about developing completely separate stand alone sources of income for retirement. Now, here’s what I mean by that. Everybody wants income from real estate. I get it, and that’s great. There’s a lot of times though, if you have the right factors in your own financial status that you can create tax free incomes. Sometimes, they can be tax free, not tax sheltered, not tax deferred; literally tax free. Sometimes, you can take some of these things and incorporate them in with your real estate investing, such as for example, taking your real estate capital tax free and moving it over to another source of income such that they will not be subject to income taxes by the time you retire. Now look, there’s a lot of ways to do this, and I will give specific examples in another video. Here’s what I want you to take away from this – is that when you invest in real estate and you combine strategies, which is the real value that you can bring to the table, not just use one strategy every time out; when you speed up your growth and capital or you increase your cash flow, you want to see if you can leverage that; such that in retirement, it results in more after tax income. You don’t spend before tax cash flow, you spend after tax cash flow. It’s no different in retirement that when you’re at work. You can only spend the take home pay, so if the income itself by definition of the Internal Revenue code is that it’s tax free, we like that. Repeat that…we like tax free income. Some people can develop so much tax free income by the time they’re retired that their real estate portfolio ends up to be cash flow that is spending money. Their free and clear status ends up to be a de facto kind of default bank, so what I’m telling you is if it’s possible, and I can tell you whether it’s not for you, you want to end up creating multiple sources of retirement income and keep your eye on the ball, and the eye on the ball is what’s spendable, and that’s always after tax. This is Jeff Brown, the BawldGuy. Thanks for joining me today. I’ll see you next time.

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About BawldGuy

I'm second generation real estate, first licensed in fall of 1969. Having been mentored by several iconic brokers, I'm also CCIM trained, having completed all 200 hours back in 1980. Have successfully executed well over 200 tax deferred exchanges, many of which have been multi-state in nature. Strong points are analysis and the creation and real world application of Purposeful Plans employing several strategies synergistically. The idea is to arrive at retirement with the most after tax income possible, backed by the largest net worth.

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